Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against KuCoin−0.088%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$971as in the Funding arb table

Net, price: spread back to 7d avg − costs−$973as in the Price arb table

costs, in and out, $10k−$9709.703% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.355%−$35 · spread now −0.088%, 7d avg −0.060%

Together, before fees−0.366%−$37 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.028% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BASEDUSDTM	0.06813	0.0100	pay 0.0050% / 4h	54m 32s	$568K	$72K	20x
Short	Bybit BASEDUSDT	0.06807	0.0100	get 0.0050% / 4h	54m 32s	$2.1M	$683K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee BybitbpOrdersPrice spread, now −0.088%Rate

Funding earned: $0
Price spread: −0.088% → −0.060%: −$2.76
Slippage, 4 orders: −$947.27
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$973.03
Costs to cover: 9.703%
Break-even: never at this rate

Slippage from KuCoin: live order book, 29 min ago; Bybit: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 29 min ago	18.92 bp	448.4 bp −$448	1039.5 bp −$10.4K	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	7.34 bp	76.8 bp −$77	969.1 bp −$9,691	doesn't fit	doesn't fit

BASED on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BASEDUSDT	+0.0100%	4h	0.06815	+0.029%	$29K	$6K	5x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06815	+0.029%	$4.2M	$3.1M	25x	as long as short
Bybit BASEDUSDTshort	+0.0100%	4h	0.06807	−0.088%	$2.1M	$683K	25x
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06808	−0.073%	$2.7M	$3.8M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06808	−0.073%	$534K	$578K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06816	+0.044%	$4.9M	$591K	50x	as long as short
KuCoin BASEDUSDTMlong	+0.0100%	4h	0.06813	long leg	$568K	$72K	20x
Bitget BASEDUSDT	+0.0100%	4h	0.06820	+0.103%	$1.3M	$366K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06808	−0.073%	—	$1.7M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06809	−0.061%	$94K	$15K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06809	−0.065%	$94K	$380K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06815	+0.029%	$1K	$886K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06812	−0.009%	$1K	$197K	5x	as long as short
BloFin BASED-USDT	+0.0107%	4h	0.06818	+0.073%	$260K	$47K	25x	as long as short
Orderly PERP_BASED_USDC	+0.0236%	4h	0.06818	+0.073%	$3K	$664	10x	as long as short